Bhubaneswar: Union Petroleum Secretary Tarun Kapoor, who is on a visit to Odisha, announced a host of projects to be taken up in the State including the expansion of Indian Oil Corporation Limited’s (IOCL) capacity expansion from the present 15 Million MT per annum to 25 Million MT.
As per the announcement, Odisha’s Chandikhol is going to get the Country’s largest strategic petroleum reserve at a cost of Rs 10,000 crore. The reserve will be an underground facility spanned across 400 acres of land which the State government will provide.
Addressing a presser on Monday, Kapoor said, “Out of the nine refineries of IOCL in the country, the one at Paradip is the most modern and advanced with a complexity index of 12.5, the highest in India. Given the strategic position of Paradip, we have decided to expand its capacity.”
“The refinery will not only cater to the domestic demand but has the potential to act as an export hub for South-East Asia too, given its strategic position, he added.”
The proposed expansion has potential to increase the petrochemical intensity of the refinery as well. There are a lot of Petrochemical industries already attached with the refinery and the expansion will likely to augment the industry further. As per the CMD of the Paradip refinery, “Along with the expansion, a petrochemical complex will also come up at Paradip.”
“India is heading towards a gas based economy and the Government is stressing on the use of Natural Gases. 6.3% of the primary energy need of Indians is being fulfilled by the natural gases and we are targeting at least 15%,” Kapoor said.
Among the other major proposals, under the Centre’s vision to supply gas to every household, the IOCL has proposed to establish 200 bio-gas plants in the State.
The Petroleum Ministry has plans to invest Rs 92.556 crore in 10 big projects in the State.
(Edited By Ramakanta Biswas)